Acorn Creek Capital LLC Has $697,000 Stock Position in Tesla, Inc. $TSLA

Acorn Creek Capital LLC increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 1.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,194 shares of the electric vehicle producer’s stock after purchasing an additional 34 shares during the period. Tesla makes up 0.3% of Acorn Creek Capital LLC’s holdings, making the stock its 25th biggest holding. Acorn Creek Capital LLC’s holdings in Tesla were worth $697,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Cherry Tree Wealth Management LLC grew its holdings in shares of Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 44 shares during the last quarter. First PREMIER Bank lifted its stake in shares of Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 42 shares during the period. Newton One Investments LLC lifted its stake in shares of Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after acquiring an additional 75 shares during the period. Arcadia Investment Management Corp MI acquired a new position in shares of Tesla in the first quarter worth approximately $27,000. Finally, Chelsea Counsel Co. lifted its stake in shares of Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after acquiring an additional 40 shares during the period. Institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TSLA. UBS Group set a $247.00 price target on Tesla in a research note on Monday, October 6th. Benchmark reissued a “buy” rating and issued a $475.00 price target (up previously from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Evercore ISI lifted their price target on shares of Tesla from $235.00 to $300.00 and gave the company an “in-line” rating in a research report on Monday. Robert W. Baird raised shares of Tesla from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $320.00 to $548.00 in a research report on Friday, September 19th. Finally, TD Cowen upped their price target on Tesla from $374.00 to $509.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have given a Hold rating and eight have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $363.03.

Tesla Stock Up 5.4%

TSLA stock opened at $435.90 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The company has a market capitalization of $1.45 trillion, a price-to-earnings ratio of 251.97, a PEG ratio of 14.92 and a beta of 2.08. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The stock has a fifty day moving average of $378.50 and a 200-day moving average of $329.48.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.52 EPS. As a group, equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity at Tesla

In related news, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the sale, the director directly owned 697,031 shares in the company, valued at $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the transaction, the senior vice president owned 47,600 shares of the company’s stock, valued at $17,314,500. This represents a 29.59% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 202,606 shares of company stock valued at $75,588,902. Corporate insiders own 19.90% of the company’s stock.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.